The United Nations is having a massive budget problem and is reportedly about to run out of cash by the end of the month, according to CBS.
The United Nations is running a deficit of $230 million and looks like it will run out of money by the end of October, according to Secretary General Guterres said Monday. The U.N. is looking at several “additional stop-gap measures” to ensure salaries and other costs are paid.
The letter was obtained by 37,000 employees at the U.N. secretariat and obtained by Pamela Falk at CBS.
“Member States have paid only 70 percent of the total amount needed for our regular budget operations in 2019. This translates into a cash shortage of $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month,” the United Nations Secretary General wrote.
The United Nations will look to postpone conferences and reduce services. They are also restricting official travel to only essential services.
In a statement, Stéphane Dujarric, Spokesman for the Secretary-General, said that member states have not paid the amount owed into the compact.
“This is the only way to avoid a default that could risk disrupting operations globally,” read the statement. “The Secretary-General further asked governments to address the underlying reasons for the crisis and agree on measures to put the United Nations on a sound financial footing.”
There are 193 member states. Only 129 have paid their normal contributions.
“We are at a tipping point,” Guterres said, “and what we do next will matter for years to come.”
The U.S. makes up 22 percent of the United Nations budget which is 3.3 billion. Trump considered cuts to foreign aid to the U.N. but pulled back from it in August of 2019 after Congressional response.